Cyprus Mail
Business

Authorities to gain access to tax dodgers’ bank accounts

By Stelios Orphanides

A new law designed to help authorities improve taxpayer compliance will allow the freeze and confiscation of deposits as early as mid-March, a tax officer said.

“We aim at implementing the law in mid-May on a trial basis for test cases,” Michalis Stavrou, a senior office at the finance ministry’s tax department, said in a telephone interview on Friday.

“We are criticised that there are taxpayers who are not meeting their obligations by paying their debts to the state,” Stavrou added. “We will use this measure given to us by the legislative power in a way that will help the state collect what is due by taxpayers”.



Related posts

Deadlock at EU budget summit as rival camps dig in (update)

Reuters News Service

Cyprus prepares for new world order: negative interest rates

Kyriacos Iacovides

Nicosia among top small European cities of the future

Staff Reporter

Cayman Islands tops ranking of money hideouts

Reuters News Service

EU adds Seychelles, Cayman Islands, Panama to tax haven blacklist, spares Turkey

Reuters News Service

Cyprus enjoys strong growth prospects but contingent liabilities remain, Scope says